Each property was previously owned separately by Eldridge. Under the new arrangement, Valence also will own Eldridge’s minority stake in A24. The studio produced last year’s Oscar Best Picture winner “Moonlight”, as well as this year’s Best Picture nominee “Lady Bird.”

Valence Media will be led by Asif Satchu and Modi Wiczyk, co-founders and co-chief executives of MRC. Boehly will serve as chairman.

Terms of the transaction were not disclosed.

Satchu and Wiczyk said in a statement, “Our firm belief is that short- and long-term growth depends on maximizing the expertise, relationships and creativity that these three combined, best-in-class businesses uniquely offer.”

The consolidation of the companies comes less than a year after the failure of Eldridge’s $1 billon deal to sell Dick Clark Productions to Chinese conglomerate Dalian Wanda Group.

Media and entertainment reporter Diane Haithman can be reached at dhaithman@labusinessjournal.com. Follow her on Twitter @dhaithman.